RACE Wave Analysis – 22 May 2025

- RACE reversed from round resistance level 500.00
- Likely to fall to support level 460.00

RACE earlier reversed from the strong resistance area between the major round resistance level 500.00 (which has been reversing the price from the middle of 2024) and the upper weekly Bollinger Band.

The last time the price reversed down from the resistance level 500.00 it formed the weekly Japanese candlesticks reversal Evening Star – signalling the strength of this resistance level.

Given the overbought reading on the weekly Stochastic indicator, RACE can be expected to fall to the next support level 460.00.